New Placer Dome Gold Drilling & Production News

New Placer Dome Gold (TSX-V: NGLD)(OTC: NPDCF) — currently trading around C$0.09 per share — has announced the early identification of chargeability anomalies via its ongoing induced polarization (IP) / resistivity geophysical surveys at the flagship Kinsley Mountain Gold Project, Nevada.

The program — which is already yielding positive results in the first two infill lines received thus far — is a follow-up to last year’s successful drilling, which produced highlight intercepts of:

  • 15.1 grams per tonne (g/t) gold over 7.6 meters at the Western Flank Zone (WFZ)

  • 9.83 g/t gold over 7.6 meters at Main Pit North

  • 1.77 g/t gold over 25.3 meters at Secret Spot 

New Placer Dome CEO, Max Sali — whom you’re about to hear more from via an exclusive interview with our own Gerardo Del Real of Junior Resource Monthly who was onsite at Kinsley in May — commented via press release:

“The 2020 geophysical surveys successfully demonstrated that IP/Resistivity surveys are a powerful exploration tool capable of unlocking potential targets undetected by previous methods. The discovery of additional high-quality chargeability targets on the first two lines of the 2021 survey further reinforces our belief that additional undiscovered zones of high-grade gold mineralization exist within underexplored areas at Kinsley. With the survey only 10% complete, we look forward to receiving additional results as we move forward with completing the financing and generating drill targets for the upcoming Kinsley core and RC drilling program. We continue to collect allocations on the private placement financing on a daily basis despite market conditions and continue to work on the Kinsley project and appreciate the support from insiders of Liberty Gold and funds that continue to support.” 

The 10,300-acre property is situated 90 km south of the 3.5Moz Long Canyon Mine, which is currently in production via the Barrick-Newmont JV — Nevada Gold Mines. The Kinsley Mountain project, itself, boasts a current NI 43-101 resource of 418,000 oz Indicated at 2.63 grams per tonne (g/t) gold plus 117,000 oz Inferred at 1.51 g/t gold with current exploration activities aimed squarely on resource expansion and new target identification.

The IP program is progressing in a northwesterly direction from the Shale Saddle towards the high-grade WFZ resource. To-date, only 10% — or 8 line-km — of the survey is complete. An additional 72 line-km are planned and will cover a total area of 25 sq km of undrilled target host rocks.

new placer dome chargeability chart

Figure 1. Kinsley Mountain IP/Resistivity Chargeability Inversions

As you’re about to discover, the basic premise of the IP is to, hopefully, see the LED screen light up like a Christmas tree as the DC current picks up on chargeability anomalies in the underlying geology.

And that is precisely what’s been happening (see above image) at this early stage as new chargeability anomalies have been identified within an area untested by previous drilling, representing a minimum of three new potential drill targets.

Add to that the numerous high-grade intercepts produced in earlier drill rounds and you have all the ingredients for an exciting exploration and subsequent drill program designed around what the company anticipates will be the most well-defined drill targets to date at Kinsley Mountain.

And keep in mind also that all of this activity is underway via an exceptionally well-run junior explorer with multiple Nevada gold projects — Kinsley Mountain, Bolo, and Troy Canyon — all at a minuscule market cap below C$8 million.

special report coverRead Gerardo’s exclusive interview with New Placer Dome CEO, Max Sali.  

Access additional New Placer Dome news, interviews, and much more here.

And last but not least, check out our feature report on New Placer Dome Gold.

Yours in profits,

mike fagan signature

Mike Fagan
Editor, Resource Stock Digest

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